Analysts’ Recommend ‘Buy’ Ferrari (NYSE:RACE) Stock in October
$RACE, $FCAU, $F, $GM
- Ferrari, N.V. is moving beyond most analysts’s targets in Y 2017.
In Y 2016, Ferrari (NYSE:RACE)) outperformed legacy automakers and the broader market (NYSEArca:SPY)) on Wall Street with 21.1% returns.
YTD 2017 has also been a strong year for the iconic Italian Supercarmaker. As of 11 October, Ferrari stock has 2X’d with about 100.4% returns YTD.
In comparison, Ford (NYSE:F) has risen about 2.1%, General Motors (NYSE:GM) and Fiat Chrysler (NYSE:FCAU) have 30.5% and 97.7% YTD gains, respectively.
Also, the sales of Ferrari’s V12 engine cars have recovered in Y 2017 so far after falling in Y 2016. Notably, the V12 engines generate higher profits for the company as compared to its V8 engine cars.
Further, Ferrari reported 6.4% and 5.3% Y-Y increases in its global shipments in both Q-1 and Q-2 of Y 2017 respectively. A continuation of this positive shipment growth trend in Q-3 of Y 2017 is keeping investors’ optimism alive in the long term.
|NYSE:RACE||115.82||13 October 2017||-0.27||115.81||116.42||115.33||137,107|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Neutral (0.22)||Neutral (0.21)||Neutral (0.21)||Bullish (0.25)|
Have a terrific week.